Edison International (NYSE:EIX) Position Increased by DnB Asset Management AS

DnB Asset Management AS raised its stake in Edison International (NYSE:EIX) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,054 shares of the utilities provider’s stock after buying an additional 9,116 shares during the period. DnB Asset Management AS’s holdings in Edison International were worth $7,908,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of EIX. Larson Financial Group LLC lifted its holdings in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Edison International by 2.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 236,040 shares of the utilities provider’s stock worth $20,557,000 after buying an additional 5,285 shares during the period. Glenmede Trust Co. NA lifted its stake in Edison International by 5.5% during the third quarter. Glenmede Trust Co. NA now owns 7,668 shares of the utilities provider’s stock valued at $668,000 after buying an additional 400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Edison International in the third quarter worth about $132,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of Edison International in the third quarter worth approximately $394,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

EIX stock opened at $58.20 on Friday. The firm has a 50 day moving average of $55.00 and a two-hundred day moving average of $72.50. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a market capitalization of $22.41 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. As a group, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.69%. Edison International’s payout ratio is currently 100.30%.

Wall Street Analysts Forecast Growth

EIX has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Mizuho lowered their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. Finally, Barclays reduced their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.